Spire Global price target raised to $16 from $9 at Baird

Baird analyst Jeffrey Meuler raised the firm’s price target on Spire Global (SPIR) to $16 from $9 and keeps a Neutral rating on the shares. The firm said the Maritime commercial business divestiture is materially positive given divestiture valuation, and positive balance sheet transformation to significant net cash, whereas they previously considered balance sheet a material risk.